Hi Amit,
Below is the solution proposed by Manjunath ( GK, Acc team).
@Praveen, can Manjunath join this discussion? so that we get the correct
version of his solution.
- Proposed solution how it can be implemented in Mifos X.
- If insured event happens, Do a pre-closure of loan account with type -
pre-closure (Insured event)
- Accounting entries effected
- GL Account receivable from Insurance
*increases (Asset) *
- GL Account portfolio asset *decreases ** (Asset)*
- When Insurance company clears the claim
- Accounting entries effected
- GL Account receivable from Insurance *decreases ** (Asset)*
- Left over amount will be posted to liability ( Extra amount
from insurance need to pay to client ) *increases **(Liability)*
- Does something also increase here* ?? *I think I missed
something
<Ed Cable>
Looks like we still need some type of Debit entries for this transaction
sequence as you've noted two credits (decrease to rec eivable and increase
to liability. Is there a cash inflow here with cash coming in from
insurance company?
</Ed Cable>
-
- When MFI pay extra cash to nominee
- Accounting entries effected
- GL Account liability ( Extra amount from insurance need to pay
to client ) *decreases **(Liability)*
- Cash paid *increases ( Is it expense? )*
Thanks and Regards,
Nayan Ambali
+91 9591996042
skype: nayangambali
On Tue, Nov 26, 2013 at 7:18 PM, Vishwas Babu <[email protected]>wrote:
> Hello Amit,
>
> >>1. Now where I made a receipt entry for the same in Mifos.
> I do not think this is possible in Mifos. The only solution might be to
> probably activate the loan from the back-end and then enter the new
> transaction
>
> >>How this situation will be handled by in Mifos X.
> A few other folks had similar requirements, we are now planning to add
> support for this workflow (reactivate a written-off loan and then make
> payments/edits etc) in the next couple of releases
>
> Regards,
> Vishwas
>
>
> On 25 November 2013 12:04, AMIT JAIN <[email protected]> wrote:
>
>> Hello all,
>> Can any body guide me on the following situation?
>>
>> We wright off one account say "A" into the mifos 2.6.
>> After some time we recovered some money from "A".
>>
>> 1. Now where I made a receipt entry for the same in Mifos.
>> 2. If any how it is done what will be the effect on accounting exports.
>> 3
>>
>> How this situation will be handled by in Mifos X.
>> Thanks and regards
>>
>> --
>> AMIT JAIN | E.D | Digamber Finance (Chota Loan Bade Sapne) |
>> +919414041821 |
>>
>>
>> ------------------------------------------------------------------------------
>> Shape the Mobile Experience: Free Subscription
>> Software experts and developers: Be at the forefront of tech innovation.
>> Intel(R) Software Adrenaline delivers strategic insight and game-changing
>> conversations that shape the rapidly evolving mobile landscape. Sign up
>> now.
>>
>> http://pubads.g.doubleclick.net/gampad/clk?id=63431311&iu=/4140/ostg.clktrk
>> _______________________________________________
>> Mifos-users mailing list
>> [email protected]
>> https://lists.sourceforge.net/lists/listinfo/mifos-users
>>
>>
>
>
> ------------------------------------------------------------------------------
> Shape the Mobile Experience: Free Subscription
> Software experts and developers: Be at the forefront of tech innovation.
> Intel(R) Software Adrenaline delivers strategic insight and game-changing
> conversations that shape the rapidly evolving mobile landscape. Sign up
> now.
> http://pubads.g.doubleclick.net/gampad/clk?id=63431311&iu=/4140/ostg.clktrk
> _______________________________________________
> Mifos-users mailing list
> [email protected]
> https://lists.sourceforge.net/lists/listinfo/mifos-users
>
>
------------------------------------------------------------------------------
Rapidly troubleshoot problems before they affect your business. Most IT
organizations don't have a clear picture of how application performance
affects their revenue. With AppDynamics, you get 100% visibility into your
Java,.NET, & PHP application. Start your 15-day FREE TRIAL of AppDynamics Pro!
http://pubads.g.doubleclick.net/gampad/clk?id=84349351&iu=/4140/ostg.clktrk
_______________________________________________
Mifos-users mailing list
[email protected]
https://lists.sourceforge.net/lists/listinfo/mifos-users
